Businessman： Estonia has become a Swedish colony

Strange how some people react when they get turned down for a loan. The zero rate income tax on reinvested profits is a major attraction for doing business in Estonia,仓储笼, benefiting all investors of course - not only the Swedes.. answer
~Viking [31.03.2011, 09:39] rate it 12345 bad comment
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Well, thats sad. - I mean that it is only the Swedes who have discovered what we can offer a free market. I hope that we will soon see companies from the other Scandinavian countries doing business her. And why do we not see more of DE,GB,FR etc companies here. - That would certainly add both skill and jobs and help us grow further and faster.
Maybe this prominent Estonian Businessman is from Finland?? answer
~rurik [31.03.2011, 13:07] rate it 12345 bad comment
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Well thank goodness we are a Swedish and not a Russian colony. For years Ireland has been an American colony and it did them no harm until their banks went crazy and leveraged the economy to loan money to verybody in the world who could not pay them back.
Providing you have tangible assets and cashflow I see no difference where you bank now and Estonian bankers are just as hungry as their Swedish parents for good clients and given the los government debt levels we woudl be crazy to not remain a tax haven answer
~correspondent [31.03.2011, 14:11] rate it 12345 bad comment
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The businessman is quite correct.
A long business meeting with the head of retail banking HQ of one of the larger Estonian banks last week confirmed EXACTLY the subject of this article.
They said "we are becoming a boring scandinavian country", and this failed policy is being pursued at the highest political and bureaucratic levels.
Effectively this means Estonian banks have been told to by their Danish, Finnish and Swedish head offices to CONTRACT their loan portfolio and reduce all exposures to risk.
As a result, banking costs have soared, and loans have contracted.
There can be no worse environment to develop a business in Estonia today, and it stifles every possible attempt at innovation.
Adding to this, the legal and bureacuratic environment is totally blinkered, dumbs down the population into accepting falling wages and living standards, and
pursues the path of nihilism and denial at every stage.
Go figure,- everyone knows the cost of living has jumped, and there's no longer anywhere to hide behind the Euro mirage, the "5th richest country in the EU wet dreams" and the falling EU subsidies. answer
~E-pigs unite [31.03.2011, 15:28] rate it 12345 bad comment
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A Genius! I hope he/she is Estonian, but I highly doubt it, given the logic and truth he/she speaks. answer
~E-pigs unite= [31.03.2011, 23:56] rate it 12345 bad comment
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"Swedish companies can take out profits without paying income tax."
How is this the case? In Estonia, when you take a profit distribution it is taxed in Estonia. I suppose they could try something tricky with transfer pricing, but that is likely to come under scrutiny from tax authorities in both countries.
Also the subcontracting jobs aren't the best, but at least they are jobs and for just the right people, given that most of the unemployed are low-skilled and can fill these jobs.
As for banks giving loans, I've heard of that issue also. There are smaller banks that have Estonian capital, like LHV. Are these banks also not giving out loans? answer
~ameeriklane [01.04.2011, 00:03] rate it 12345 bad comment
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Prominent and secret. Does not look true, it is probably only some reporter who wanted to catch readers attention. And bbn plays along for the same reason. Not serious. answer
~Mart [01.04.2011, 10:25] rate it 12345 bad comment
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Estonia has always been a colony. Always a follower on everything. Never the leader. answer
~his right [01.04.2011, 23:30] rate it 12345 bad comment
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Sweden is famous for its double standards.
Inside it is true democracy :)
But behavior in the Baltic States is indeed very wild and uncivilized. The best example is swedish banks, which have strong links with political parties and being protected by the state. answer
~puk [02.04.2011, 13:09] rate it 12345 bad comment
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Yeh, totally agree answer
~to puk [02.04.2011, 13:10] rate it 12345 bad comment
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The Baltics, need to work together, instead of always divided! answer
~NICK KNIGHT [02.04.2011, 15:15] rate it 12345 bad comment
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This is a 100% correct observation. The Swedes increased the lending to Estonian companies and private persons. At the top,they recalled all loans. Now the Swedish owned banks do not give any loans to any locals. Only Swedish companies get loans. This way they can act like kings and pay peanuts for Estonian products and services. Swedes are Swedes - double standards are their way of acting. Just go back and look how they acted 1938-1944 as Germanys closest friends. They turned the coat at the end of 1944,and then jumped over to the other side - the winners side. But too late for all that can read
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